WILDWOOD REAL ESTATE BUYERS AND SELLERS INFORMATION | BUYWILDWOOD.COM

For Buyers...
When representing a Buyer, the number one goal of an Island Realty Group Agent is to provide our clients with a real estate buying experience that progresses from showing to settlement in a smooth and timely manner. All too often we hear horror stories of delayed settlements and sales that have fallen through, many of which could have been avoided had the agents involved kept a closer eye on the details of a sale. Your first order of business PRIOR to viewing a property should be to conduct an extensive online search for the agent you are considering to represent you. Remember, over 95% of all real estate searches begin online... why not start your search for your Realtor in the same place. There is a wealth of information available on both the individual agent or the actual brokerage that they are affiliated with. For example for our agency you can look us up on Kudzu or simply review our Client Testimonials, or for those who feel the proof is in the number take a look at the many Buyers Sales we've represented throughout the Wildwoods and Surroundings Areas.

Buying a home, condominium or investment property in the Wildwoods or any other shore community in Cape May County requires and agent with hands-on knowledge of the community who has access to as much information as possible. This information will include the basics such as comparable sales data, tax records and community information but your agent should also have specific information such as Condominium Homeowners Association information, local ordinances and even rental potential of a specific property. Did you know that Island Realty Group manages several hundred Wildwood rental properties and is considered the number 1 Wildwood Rental Agency, providing owners a reliable cash stream from their property year after year? Information is crucial in the real estate buying process.

Where do you get started? The internet of course...
The Island Realty website is the best place to begin. Here you can search Wildwood Real Estate listings in addition to reviewing past sales data and market trends. The next step is to engage the services of an Island Realty Group Realtor for the following reasons:

KNOWLEDGE OF THE LOCAL MARKET - Buyers expect to be able to rely on the information their agent provides anticipating it to be up-to-date, complete and supplied within a timely manner.

FULL-TIME vs. PART-TIME - When selecting an it is important to choose someone who has the time to dedicate to your needs. Being a full-time Realtor means staying on top of daily sales and listing information in addition to being available when you have a question. There is nothing more frustrating that receiving a Realtor's voicemail in fact this is the number one complaint consumers have about Realtors. Engaging the services of an agent who works less than full time is a usually a disadvantage to a Buyer.

SUPPORT FOR YOUR PURCHASE - Island Realty Group employs a support staff that monitors your purchase from showing to settlement. The purchase process is almost like a play requiring constant oversight and action on the parts of all parties. Finding the perfect property is difficult enough but then there exists a timeline that must be followed to not only guarantee your interests are protected but to ultimately lead to a smooth closing. This is where our support staff comes in making sure inspections are conducted, utilities transferred, insurance obtained and mortgage commitments provided. There is nothing worse than missing a deadline and losing your rights due to a forgotten item.

WHAT WE WANT TO SEE IN A BUYER - As Realtors we don't ask for much. The most important thing we look for is a client who is up front with us and shows us the same loyalty we show them. An Island Realty Group agent will dedicate all the time you require for viewing properties or simply sitting down to chat but we ask you make a definitive choice as to who you will be employing as your buyers agent. There is nothing more disheartening to an agent than to see a client you've spent countless weeks, months or even years showing properties to only have them purchase with another agent. An Island Realty Group agent will always be up front with you showing you the loyalty you deserve... it's our mission and it's the law.

For Sellers...
When representing a Seller, our number one goal is to secure a qualified buyer for your property at terms and a price most attractive to you, the Seller. Island Realty Group has developed a marketing program that produces proven results, just take a look at our sales where we have represented the seller.

Island Realty Group offers our Sellers a comprehensive marketing campaign that includes both conventional print media marketing and an in-depth extensive internet presence since over 95% of today’s Buyers will begin their search online. Our global web presence will give your property the exposure required to attract the perfect Buyer for your home. Our firm is also the only brokerage that maintains an active membership in numerous Multiple Listing Services placing your property at the fingertips of Agents not only throughout the South Jersey market but also extending into North Jersey, Pennsylvania, Ohio and Maryland.

Where do you get started? Contact Island Realty Group for a Comparative Market Analysis (CMA)...
If you are looking to sell contact us and schedule a time to meet that is convenient for you. It is important for us to see your property but is equally important for you to meet us since we may be representing you in one of the most important decisions in your life. A CMA is simply an opinion of possible selling price based on recent sales of comparable properties. While it is not an appraisal or determination of value it does utilize factual data in order to formulate an opinion to help determine a suggested marketing price. In addition there are other things to consider:

PRICING - Your final decision where to price your home should also consider the following factors:
1/ What is your motivation to sell?
2/ What is your timeframe?
3/ How does your property compare to other current offered for sale?
Our suggestion would be to schedule a showing with us to view similar offerings to better understand what is offered and at what price.

YOUR PROPERTY - We as Realtors are not home inspectors so it is up to you to provide as much information about your property as possible. Today's buyers expect Realtor's to have at their fingertips the answers to all their questions. Some of the most common questions relate to zoning, easement or property lines, reserve funds for the HOA (Condos), the existence of hazardous materials such as asbestos, lead-paint, was the property ever flooded or did it ever have any mold, was the property ever treated or repaired as a result of termite and wood-boring insect infestation, condition of pilings/footings or are there any underground oil tanks. It is best for a us to provide this information when asked as many buyers are ready to make a decision and don't want to wait for answers.

WE HAVE AN OFFER... NOW WHAT? - At this point an offer was submitted which in turn was presented to you. We'll discuss the offer with you and guide you through the various contingencies that the offer may include. The most common are the mortgage, home inspection and appraisal contingencies but when selling a condominium typically the offer will include a Condominium Master Deed and Budget Review. Assuming we've negotiated an acceptable price we now look to the contingencies:

1/ Mortgage Contingency - simply put the buyer agrees to make a good faith effort to secure financing on terms acceptable to them in order to purchase the property. Should they be unable to obtain financing they have the right to cancel the sale and receive their deposit back. The buyer typically applies for their mortgage within 5 days of acceptance of their offer and the actual mortgage commitment is due within 30 days of acceptance.
2/ Home Inspection - Typically all sales have a home inspection contingency. This provides for a total inspection of the property within a specified time-frame, typically 15 days from acceptance. Even in cases where the property is sold "as-is" if this contingency is part of the sales contract the buyer can cancel the sale should their inspection reveal a defect requiring repair that the seller and buyer cannot agree on. Other than the costs of the inspection the buyer will receive their deposit back. Our recommended home inspector in the Wildwoods and at the South Jersey Shore can be found here.
3/ Appraisal Contingency - Every so often we find this in the sales contract. Most often it is used when the buyer is financing less than 70% of the purchase price. Think about it... why would you buy a property for $200,000 when it appraised for $190,000?
4/ Homeowners Association Review - The contract for sale of a condominium almost always has this contingency included. Basically the buyer will have the right to review the budget and master deed ensuring them that there are no rules that they do not agree with and also showing them the financial health of the association.

ON TO SETTLEMENT - At this point we assume we've gotten through all the basics. From the end of the last contingency to closing we will keep you informed every step of the way ensuring the buyer is performing their responsibilities as agreed in the sales contract. We will then coordinate the closing with the Title Agency which has been chosen by the buyer. You may choose to attend closing or you may elect to settle by mail. In any event we will attend closing to finalize the sale.

Island Realty Group has handled hundreds of sales within the South Jersey Shore Region and looks forward to working for you. Contact us today!